Vneshtorbank (VTB) reported on Monday a trade and export financing portfolio increase of 40 percent in 2014.

The report said the bank was one of Russia's leading financial institutions in this area, with its portfolio reaching approximately $3.5 billion last year.

This increase was due to over 1,200 transactions being finalized by VTB; credit transactions of this kind were a focus for the strategic planning of the bank.

The bank said it broke new ground in markets such as the Asia-Pacific region. With this, it can offer a wider range of services and products in several regional currencies, The bank's Shanghai branch tripled its volume of transactions, indicating growth in demand.
"VTB is one of the leaders in trade and export finance, and we plan to develop this business line in the future to help our clients develop relationships with new foreign trade partners," Deputy Chairman of the Management Board of VTB Yuri Soloviev said.